XL Fleet Installs Charging Infrastructure to Power Apex Clean Energy’s Electrified Vehicle Deployments

Rhea-AI Summary

XL Fleet Corp. has successfully installed 12 dual-port charging stations at six wind farm facilities in Texas, Oklahoma, and Illinois. This deployment supports Apex Clean Energy's fleet of ten Ford F-series pickups equipped with XL Fleet's plug-in hybrid electric drive systems. The initiative aims to enhance Apex's sustainability efforts and facilitate future EV investments. The installation was overseen by the World Energy Efficiency Services team, now part of XL Fleet’s operations, which provides comprehensive electrification solutions.

Positive

• Successful deployment of 12 charging stations enhances infrastructure for electric vehicles.
• Supports Apex Clean Energy's sustainability goals by electrifying their fleet.
• Strengthens XL Fleet's position in the vehicle electrification market.

Negative

• None.

Leading clean energy company electrified its work truck fleet with XL Fleet plug-in hybrid and hybrid systems on its F-Series pickup trucks earlier this year

Charging deployment was managed by the XL Grid and World Energy teams and includes 12 chargers across six wind farm facilities in Texas, Oklahoma and Illinois

BOSTON--(BUSINESS WIRE)-- XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced it has completed installation on a series of charging station deployments for Apex Clean Energy (“Apex”), a leading clean energy company that develops, constructs, and operates utility-scale wind and solar power facilities throughout North America.

XL Fleet has completed installation on a series of charging station deployments for Apex Clean Energy, a leading clean energy company that added ten pickups equipped with XL Fleet plug-in hybrid electric drive systems earlier this year. (Photo: Business Wire)

The deployment includes 12 dual-port, level 2 chargers that were installed at six different wind farm facilities across Texas, Oklahoma and Illinois. The charging infrastructure has been added to power ten Ford F-series pickups equipped with XL Fleet plug-in hybrid electric drive systems that Apex deployed in its service fleet earlier this year, which was previously announced on April 7. In addition, the stations are intended to prepare the facilities for additional EV investments moving forward as Apex continues to invest in meeting its sustainability goals through vehicle electrification.

Installation was managed by the World Energy Efficiency Services team that joined the XL Grid business as a wholly owned subsidiary of XL Fleet in May, extending the Company’s electrification solutions to include a comprehensive and integrated suite of hybrid electric drivetrains, charging infrastructure, and energy efficiency consulting and project management services.

“Apex continues to invest heavily in our commitment to sustainability and driving the clean energy economy, and working with XL Fleet as our electrification partner has enabled us to move forward quickly on our EV strategy,” said Mark Goodwin, president and CEO of Apex Clean Energy.

“XL Fleet is committed to helping Apex and other sustainability-minded companies to accelerate their path to electrification, even in rural areas where access to EVs has been extremely limited,” said Eric Tech, CEO of XL Fleet. “This is a great example of how XL Fleet is leveraging our experience and our solution suite to help customers remove barriers to electrification, gain access to charging infrastructure and move forward on achieving their comprehensive sustainability goals.”

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 170 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can significantly increase fuel economy and reduce carbon dioxide emissions, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. For additional information, please visit www.xlfleet.com.

About Apex Clean Energy

Apex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across North America. Our mission-driven team of more than 250 renewable energy experts uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information on how Apex is leading the transition to a clean energy future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones, including the ongoing global microchip shortage and limited availability of chassis from vehicle OEMs and our reliance on our suppliers; the effects of competition on the Company’s future business; the availability of capital; changes in the preliminary financial results for the quarter ended September 30, 2021 upon completion of the Company’s financial closing procedures or upon review and completion of procedures by the Company’s independent registered public accounting firm, and the other risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 31, 2021, as amended and supplemented by the 10-K/A filed May 17, 2021, and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211221005229/en/

XL Fleet Media: PR@xlfleet.com

XL Fleet Investor: xlfleetIR@icrinc.com

Source: XL Fleet Corp.

FAQ

What is the recent development involving XL Fleet and Apex Clean Energy?

XL Fleet has installed 12 charging stations for Apex Clean Energy to support its fleet of plug-in hybrid pickups.

Where are the new charging stations for XL Fleet located?

The charging stations are located in Texas, Oklahoma, and Illinois.

How many pickups have been electrified by Apex Clean Energy with XL Fleet's systems?

Apex Clean Energy has electrified ten Ford F-series pickups with XL Fleet's systems.

When was the announcement of the partnership between XL Fleet and Apex Clean Energy made?

The announcement was made in a press release dated December 21, 2021.

What are the future expectations from the partnership between XL Fleet and Apex Clean Energy?

Both companies aim to enhance electric vehicle infrastructure and continue investments in sustainability.